The indexes finished down for the month - not a good sign. Reviewing my market indicators... We had a 90% down day on 1/29. The McClellan Summation index peaked over 250 at the beginning of January, the highest I have history for (back to 2001) and appears to coincide with a recent market top at the time. Although I think the market goes lower, I can't imagine the Man letting the market tank just as everyone is engorging their IRA's for the year. Why not let the peasants drink their cool-aid before telling them it's poisoned?
After reading some of Harry Dent's research, not even considering going long in the market for at least a few years and my indicators confirm some kind of turn. Although I will continue short-term trading and hone my day trading skillz.
Gold closed above the 10 month SMA. A bullish sign...
Have many sector RSI signals. Have to figure out where to focus next week.
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